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P. Simmons, Attorney

Category: Legal

Satisfied Customers: 34939

Experience: 16 yrs. of trial experience

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Anybody there? , i own only 45% of may company, llc, my

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Customer: hi anybody there? JA: Thanks. Can you give me any more details about your issue? Customer: i own only 45% of may company, llc, my partner has 55%, what rights do i have? JA: OK got it. Last thing — Lawyers generally expect a deposit of about $36 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.

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This depends...what does your partnership agreement say about this? Do you have a written partnership agreement?

If you are the "minority" holder? Your rights are to the equity (value) of the company. But if the other owner(s) consist of one one person? Then you would not have "voting rights"...or, rather, you would not have any day in the day to day operations (since the majority owner would be able to control such decisions)

You have a right to the value of your shares...so, for example, if you wanted to "cash out" you can do this...you could go to court and force sale (to allow you to get your value)

And you have the right to your share (45%) of the profits

But you would not have rights to make dad to day decisions in the company

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

This kind of helps; so yes; i'm a minority holder; i have 45%; my partner has 55%. I'm not really aware of the risks i'm exposed to. Could he get me out of the company without giving me anything? Also is this conversation; private?

Ok, if clearly i got no decision making; will i be responsible for any wrong doings he might do? Like waste money; not fufill customer orders, not pay all the taxes? I got into this because i'm making all the marketing and he's making all the products.